PNG: Oil Search Provides P’nyang South 1 ST1 Drilling Report

Oil Search reporte that as at 06:00 hrs PNG time on 19 April, the P’nyang South 1 ST1 well was at a depth of 2,944 metres and undertaking a formation evaluation programme over the Toro sandstone. Drilling progress for the week was 456 metres.

During the week, P’nyang South 1 ST1 drilled through the primary reservoir objective, the Toro sandstone. The top Toro sandstone was intersected downdip, 1.1 kilometres south of the original P’nyang South 1 well. The preliminary interpretation of electric logs and pressure data indicates P’nyang South 1 ST1 has successfully drilled through the gas:water contact, as planned. Based on the preliminary interpretation of data collected in both P’nyang South 1 and P’nyang South 1 ST1, the gas zone is interpreted to extend approximately 200 metres deeper than the lowest known gas in P’nyang South 1, indicating an increase in the total gas column to approximately 380 metres.

Seismic interpretation and structural mapping suggests additional up-dip potential above P’nyang South 1 and indicates a potential vertical gas column in the P’nyang South field of over 650 metres.

On the completion of the formation evaluation programme, the P’nyang South 1 ST1 well will be plugged back and Rig 103 released.

P’nyang South is located four kilometres south-west of the P’nyang 1X gas discovery and approximately 90 kilometres north-west of the Juha gas field.

The participants in P’nyang South 1 ST1 are:

Oil Search Limited *               38.5%

ExxonMobil affiliates            49.0%

JX Nippon                                  12.5%

Total                                             100%

* Oil Search is drilling the P’nyang South well under contract with the Operator, Esso PNG P’nyang Limited.

[mappress]
LNG World News Staff, April 19, 2012